Lets back it up a bit and take a look at what we talked about over the past several weeks, not to say whats right or wrong, but to track its progress and more importantly, ... "To Learn From It".
The $2.15 was a tough bugger to pop!, .. but it finally did it this past Monday after it created a week-long "HANDLE", ... we talked about the $2.15 last week in this post, ... Message 29325288 ... and posted these charts in early January (blue circles).
screencast.com
screencast.com
So the $2.15 is a done deal for now, but we do have an intra-day gap to deal with, actually two gaps, but like I said in previous posts, at some point, these lower damaged areas, (especially intra-day related), will be overlooked as the upward momentum takes hold and they become irreverent. But this last gap has a good chance to fill yet!
screencast.com
Our next call is where we are today, the top at $2.50/53. We posted these 2 charts earlier this month, the blue circles are the target.
Daily: screencast.com ... the green line marks the $2.15 and the most upper trend-line marks the $2.41-daily pivot, .... which I will show you later.
Weekly: screencast.com ... blue circle marks the $2.50, which by the way, .. we have NOT closed above yet!
Monthly: Here is a monthly chart pointing out the $2.89/90 which is its next target, as you will see in the opened chart below, its back from January 2nd.
screencast.com
We now need to break and close above the $2.50 then the minor-$2.60 green-line, ... so we can be on our way to the purple-$2.90.
Here is the chart, we hit a high of $2.53 today, closing just below $2.50.
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If we dont form the Handle here and continue moving higher, say up to the $2.90, I would expect a larger Cup and Handle to form at that point, you can easily visualize it in the chart above, ... use the left tip at $2.90 and curve your line to form that same bowl you see, but in a larger scale on to the right side of the chart, and expect it to complete in full a couple of months from now. |
